PSX extends rally as KSE-100 gains over 1,300 points

PSX extends rally as KSE-100 gains over 1,300 points

The Pakistan Stock Exchange (PSX) continued its upward trend on Tuesday, with the benchmark KSE-100 Index gaining more than 1,300 points as investors maintained buying interest across major sectors despite growing geopolitical tensions in the Middle East.

The market opened on a positive note, with the benchmark index climbing 1,305.39 points, or 0.78 per cent, to reach 167,869.45. Buying activity remained strong throughout the session, pushing the index to an intraday high of 168,469.78.

At 1:19pm, the KSE-100 Index stood at 167,947.06, reflecting an increase of 1,383 points, or 0.83 per cent, compared with Monday’s closing level of 166,564.06. During the session, the index also touched a low of 167,308.65, indicating some fluctuations amid an otherwise positive trading trend.

Investor sentiment remained relatively upbeat as market participants continued accumulating shares in key sectors. The sustained buying interest helped the benchmark maintain its gains, suggesting that domestic investors remained confident in the market’s near-term prospects despite external uncertainties.

Meanwhile, international oil markets witnessed an increase in prices following reports of a US strike on Iran’s Qeshm Island. The development raised concerns about a further escalation in the eight-month-long conflict and the possibility of prolonged disruptions to oil supplies from the Middle East, a region critical to global energy markets.

The reported military action added to uncertainty surrounding the regional conflict, with investors closely monitoring developments for their potential impact on crude oil prices, international trade and broader financial markets. Any further disruption to energy supplies could intensify volatility in global commodity markets and create additional challenges for oil-importing economies.

However, the latest geopolitical concerns did not appear to weaken buying momentum at the PSX during the session. The local market continued to trade in positive territory as investors focused on opportunities across major sectors, keeping the benchmark index comfortably above its previous closing level.

The market’s performance highlighted a degree of resilience in domestic trading sentiment, although developments in the Middle East and movements in international oil prices remain important factors that could influence investor confidence in the coming sessions.